Market provisionally settles with tiny losses

Key benchmark indices provisionally settled with tiny losses after witnessing intraday volatility. The barometer index, the S&P BSE Sensex, fell 18.36 points or 0.07% at 24,467.59, as per the provisional closing data. The 50-unit Nifty 50 index shed 2.90 points or 0.04% at 7,433.25, as per the provisional closing data. The Sensex fell 27.82 points or 0.11% at the day's low of 24,458.13 in late trade. The barometer index rose 159.75 points or 0.65% at the day's high of 24,645.70 in early trade. The Nifty shed 16.45 points or 0.22% at the day's low of 7,419.70 in morning trade, its lowest level since 22 January 2016. The index rose 41.75 points or 0.56% at the day's high of 7,477.90 in afternoon trade.

The market breadth indicating the overall health of the market was positive. On BSE, 1,354 shares gained and 1,201 shares fell. A total of 191 shares were unchanged. The BSE Mid-Cap was provisionally up 0.13%. The BSE Small-Cap index was provisionally up 0.14%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2632 crore, higher than turnover of Rs 2615.35 crore registered during the previous trading session.

In overseas stock markets, European stocks edged lower as investors remained cautious ahead of the US Federal Reserve's policy statement due later in the global day. Asian stocks edged higher after better-than-expected corporate earnings triggered rally in US stocks overnight. In mainland China, the Shanghai Composite index staged a strong intraday rebound. The index ended with losses of 0.52%. The index dropped as much as 4% earlier in the session. US stocks ended sharply higher yesterday, 26 January 2016, as energy stocks soared amid a rebound in oil prices.

Meanwhile, the Federal Open Market Committee (FOMC) is widely expected to keep US interest rates unchanged after the conclusion of a two-day monetary policy meeting today, 27 January 2016. Investors are awaiting the Fed's policy statement for the US central bank's comments on the oil price collapse and recent global market turmoil and what impact these may have on the Fed's approach to interest rates, which it raised for the first time since 2006 in December 2015.

Shares of power generation and power distribution companies gained. Torrent Power (up 2.43%), NHPC (up 2.84%), Adani Power (up 0.89%), NTPC (up 4.32%), Reliance Infrastructure (up 3.3%) and Reliance Power (up 1.11%) gained. Tata Power Company declined 0.41%.

Power Grid Corporation of India rose 4.32% ahead of its Q3 results today, 27 January 2016.

Coal India lost 0.49% to Rs 303, with the stock sliding on profit booking after a recent rally. Shares of Coal India had surged 5.61% in two trading sessions to settle at Rs 304.50 on Monday, 25 January 2016, from a recent low of Rs 288.30 on 21 January 2016. Meanwhile, the government has reportedly asked Coal India to ensure that it meets the target of 550 million tonnes of coal production for the current financial year.

Bharat Heavy Electricals (Bhel) dropped 4.16% to Rs 139.55. The stock hit high of Rs 146.50 and low of Rs 139.05 in intraday trade.

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